Charter Schools Capital Construction Funding

Pursuant to C.R.S. 22-54-124, each year the State Education Fund and a percentage of the marijuana excise tax provides an appropriation for Charter School and Institute Charter School Capital Construction. The purpose of this funding is to promote a safe and healthy learning environment for all Colorado students. The funding can be used by the Charter School or Institute Charter School to pay for school construction, renovation, maintaining, financing, or the purchasing or leasing of facilities.

All Charter Schools and Institute Charter Schools in the state must submit an eligibility questionnaire to the Division. The Division historically requests the certification of "Charter School Capital Construction Funding Eligibility Questionnaire" after the October 1 pupil counts. The funds are distributed on a per FTE basis and the final FTE count is taken directly from the October 1 pupil count data submitted by the district to the Division. The funds are distributed on a monthly basis; the first six months calculate the distribution amount per charter school based on FTE projections provided by the charter school. Annually in February, adjustments are made to the distribution schedule to reflect actual FTE provided in the October 1 pupil count data.

This year $25 million is appropriated: $20 million in funding comes from the State Education fund, and is currently the statutory maximum which the program can receive from the fund. In addition to this, the Charter School Capital Construction grant program receives 12.5% ($5 million) of the $40 million in marijuana excise taxes which the BEST grant program receives.

Based on projected FTE for FY17-18, the distribution schedule calculates a per FTE amount of $254.12.